Wednesday, March 30, 2011

Attorney's Fees Clause

We do a lot of collections work, and I often find myself wishing, for the client's sake, that their service contracts included an attorney's fee clause.  In the event of a breach, and the client needs to pursue their rights, the attorney's fees clause may allow the recovery of costs and attorney's fees.

Thursday, March 17, 2011

Home Improvement Compliance

If you're a contractor in CT doing certain residential work, it's important to note that you need to be a licensed contractor with the CT Department of Consumer Protection. You are also required by law to have a contract with very specific provisions. Failure to be licensed or have a contract compliant with applicable law is a per se unfair trade practice. 

Tuesday, March 15, 2011

Title Insurance

When purchasing a new home, included in your closing costs will be title insurance.  Your lender will require coverage up to the amount of the loan, and for a small additional cost you can insure the full FMV of the property.  Title insurance, which is a one time charge at closing, protects, among other things, your ownership interest in the property.  It also insures against defects in title, adverse title claims, and will cover attorney's fees and costs in defending or prosecuting title disputes.

Thursday, March 3, 2011

Right to Inspect Condo Docs

If you own a condo and are interested in seeing the books and finances of the association, note that CT law requires the association to make reasonably available all accounting, financial and other books/records of the association upon the request of the unit owner or agent.

Wednesday, March 2, 2011

Wetlands?

If you're doing any construction, putting in a pool, etc., also check with the local municipality to confirm whether or not you have wetlands - if you do, you'll need a permit to conduct your activity in a regulated area.